ACTION ALERT: Divest Public Pension Funds from Weapons Dealers

November 28, 2017World Beyond War and RootsAction.org

While governments buy weapons, market weapons to other governments, donate weapons to other governments, and bestow tax breaks on weapons dealers, there is another less-visible way in which public money sustains weapons dealing. Public pension and retirement funds are invested, directly and indirectly, in weapons companies. Teachers and other public servants whose interests ought to lie with promoting human needs have their retirement security tied up with maintaining or enlarging the war industry.

ACTION ALERT:
Divest Public Pension Funds from Weapons DealersWorld Beyond War and RootsAction.org

While governments buy weapons, market weapons to other governments, donate weapons to other governments, and bestow tax breaks on weapons dealers, there is another less-visible way in which public money sustains weapons dealing.

Public pension and retirement funds are invested, directly and indirectly, in weapons companies. Teachers and other public servants whose interests ought to lie with promoting human needs have their retirement security tied up with maintaining or enlarging the war industry.

To join us in working on this campaign, fill out the online form at the bottom of this Webpage.

big>TOP WEAPONS DEALERS
We're starting by looking only at investment in the top 20 weapons dealers in the world. These are their names and where they are based (though they sell their weapons all over the world):
Lockheed Martin, United States
Boeing, United States
BAE Systems, United Kingdom -- and subsidiary: BAE Systems Inc., United States
Raytheon, United States
Northrop Grumman, United States
General Dynamics, United States
Airbus Group, Trans-European
United Technologies Corp., United States -- and subsidiary: Pratt & Whitney, United States
Finmeccanica, Italy
L-3 Communications, United States
Almaz-Antey, Russia
Thales, France
Huntington Ingalls Industries, United States
United Aircraft Corp., Russia
United Shipbuilding Corp., Russia
Rolls-Royce, United Kingdom
SAFRAN, France
Honeywell International, United States
Textron, United States
DCNS, France

You may notice that none of these companies is located in the parts of the world afflicted by warfare, while half of them are in the United States, seven in Europe and three in Russia.

If you live in one of the above locations, including specifically Chicago or New York City, and would like to take the lead on organizing local education and protest and lobbying actions, contact us.

Public retirement investment in an industry that threatens to cut short all of our retirements is ironic but widespread. We don't know how widespread. If you have information, especially on parts of the world not yet included here, please share it with us.

In addition, the California State Teachers Retirement System (CALSTRS) as of June 30, 2016 is invested in the following. The first number is that of shares, the second the market value in thousands of dollars:

DELAWARE
The Delaware Public Employees Retirement System is invested in United Technologies Corporation in the amount of $29,927,361 -- which is 0.32% of its holdings, and 269,786 shares of the company. This is one of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

ILLINOIS
The Municipal Employees' Annuity and Benefit Fund of Chicago is invested in these weapons dealers:* Lockheed Martin $8,127,707 -- 0.7% -- 37,429 shares -- Unrealised Gain/Loss $5,358,314* Honeywell International $7,153,787 -- 0.7% -- 69,072 shares -- Unrealised Gain/Loss $3,407,048
These are two of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

MICHIGAN
The Municipal Employees Retirement System of Michigan is invested in these weapons dealers:* United Technologies Corporation $18,001,693 -- 0.2%* Honeywell International, Inc. $15,566,882 -- 0.18%
These are two of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

NEW YORK
The New York State Teachers Retirement System (the 22nd biggest pension fund on earth[8]) is invested (see these two PDFs for details: One. Two.) in Lockheed Martin, Boeing, Raytheon, Northrop Grumman, General Dynamics, United Technologies, Honeywell, Huntington Ingalls Industries, and Textron. What lesson is this teaching New York's students?

In addition, the New York City Employees Retirement System is invested in United Technologies to the tune of $71,899,692 -- 0.4% -- 703,383 shares. This is one of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

Further, the New York State Common Retirement Fund, which comprises the New York State and Local Employees' Retirement System (ERS) and the New York State and Local Police and Fire Retirement System (PFRS) and which is managed by the Division of Pension Investment and Cash Management in the Office of the State Comptroller, is invested in the following war profiteers:* Boeing 901,785 shares $139,921 value 9/30/16* General Dynamics 1,632,825 shares* Raytheon 906,000 shares* General Dynamics 901,785 shares* Lockheed Martin 765,900 shares* United Technologies 2,331,020 shares* Honeywell 2,908,100 shares [9]

NORTH DAKOTA
This is the state with a public bank that is invested in the Dakota Access Pipeline. The North Dakota Retirement and Investment Office is invested in these weapons dealers:* Boeing Company $18,613,588 -- 134,181 shares* Safran SA $13,578,820 -- 200,478 shares
These are two of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

In addition, the North Dakota Public Employees Retirement System is invested in:* Boeing Company $9,430,550* Safran SA $6,840,016
These are two of the top 10 investments of this fund which may be invested in other weapons companies as well that are not in its top 10 investments.

WHAT NOW?
The above is probably just scratching the surface. It's just what we know so far, not all there is to know. There are many ways in which funds may be indirectly invested in weapons (such as through investment in these funds).

For example, there are fund management groups that are invested in weapons dealers:
Ameriprise invests in United Technologies, Lockheed Martin, Huntington, Boeing, General Dynamics, and Raytheon. Blackrock Group invests in LTD Honeywell, Raytheon, L-3 Communications, Lockheed Martin. [13]

We don't have to know the full extent of the investment in order to begin making any such investments unacceptable, shameful, and illegal. War profiteering was, in fact, once deemed reprehensible. It has been in great measure normalized. The goal of this project is to render it unacceptable and impossible to engage in.